Review of China's Economy in 2022

Controlling the 'lockdown' of the economy and loosening the grip, how to return to the right track

    In the first two years of the COVID-19 epidemic, the strict epidemic prevention policy has brought great benefits to China's economy - when the world was plagued by the epidemic, China maintained a roughly normal economic order internally, and international orders poured into China, which contributed to a significant increase of 21.2% in exports in 2021.

    The persistent anxiety over the pandemic over the past three years has made the recovery momentum of the Chinese economy not as fast as imagined.

     According to insiders' analysis, economic growth may not be ideal in the short term. Even though the shift in the 'zero tolerance' policy will benefit most enterprises, it will not immediately alleviate the economic difficulties. The next few months will still be very challenging, but growth will improve in the spring of next year, and a more meaningful rebound will appear in the second half of next year. It is estimated that the annual growth in 2023 will reach 5%. China has set a growth target of 5.5% this year, but is expected to achieve around 3% growth due to the repeated impact of the pandemic.

    Experts overall remain optimistic about the Chinese economy after opening up, although it may suffer short-term setbacks, it will 'meaningfully' recover in the long run.